Commenting on the overall Spring Budget
package...
Craig Beaumont, Chief of External Affairs, the Federation
of Small Business said:
“We’re pleased today to see the Chancellor bring forward positive
measures to grow the economy – especially the increase to the VAT
Threshold, a particularly key FSB ask for this Budget after a
7-year freeze, and the cut to self-employed National Insurance
Contributions (NICs) which is a long-held campaign since FSB was
formed 50 years ago this year.
“The Treasury has worked constructively with FSB through the
Budget process, and there are several other measures in the full
Budget that are welcome, including the extension of the Recovery
Loan Scheme as it evolves to create the Growth Guarantee, and a
clear direction to HMRC to reduce its administrative
burden. This builds on positive measures announced in the
Autumn Statement on tackling late payment as well as extending
the 75% SME Retail, Hospitality and Leisure Business Rates
Discount and freezing the small business rates multiplier –
decisions that were tough choices given tight public finances,
but target resources where they are most needed, and have the
biggest bank for their buck – in small businesses right across
the country.”
Irene Graham OBE, Chief Executive Officer, ScaleUp
Institute said:
“The Budget today takes forward a number of important initiatives
that should support the scaleup economy across the UK, including
the new British ISA and Bond schemes and pension fund
disclosures, alongside the skills and sector initiatives such as
those linked to AI, Creative and Advanced Manufacturing. It is
also good to see the announcements on LIFTS partners and
the Growth Guarantee scheme, as well as the development of the
PISCES initiative; each of which should further support
funding towards scaling firms. We look forward to continuing to
work with Government and the private sector on the implementation
of these.”
A Kraft-Heinz spokesperson said:
“We welcome the support this Budget will bring for businesses
like Kraft Heinz which are looking to invest more in Britain’s
future. In particular, the increased investment in GIGA will help
us on our path to Net Zero; providing new funding for Hydrogen
projects like the one we recently announced at our Kitt Green
factory in Wigan.”
Commenting on the Childcare package
Chris McCandless, CEO , Busy Bees in Europe,
said:
“When the Chancellor announced the expansion of subsidised
childcare for working families 12 months ago, we were supportive
of the commitment to give more children the best start in life.
To create the additional capacity, we needed to invest in our
staff and centres. For any business that is difficult without
funding certainty, so we’re very pleased that the Government has
provided this clarity today. As the UK’s largest childcare
provider, it gives us the confidence to invest to grow our
business and support more families, in the knowledge that the
funding we receive will rise in line with inflation and other
critical fixed costs.”
Commenting on the measures in the Spring Budget targeted
at supporting the Creative Industries
Webber said:
"This is a once in a generation transformational change that will
ensure Britain remains the global capital of creativity."
Commenting on the freeze of alcohol
duty from 1 August 2024 until 1 February 2025
Nuno Teles, Managing Director, Diageo
GB:
“Cheers to the Chancellor for freezing duty and backing both the
pub and our homegrown Scotch sector. This decision gives drinkers
and pub-goers across the country reason to celebrate this summer
with a Guinness or Johnnie Walker!"
Commenting on Fuel Duty
Simon Williams, Head of Policy, the
RAC said:
“It’s positive to see the Chancellor has kept fuel duty low as
drivers are still contending with major price increases at the
pumps, sparked by the rising cost of oil. RAC Fuel Watch
analysis shows petrol and diesel prices rose by 4p and
5p-a-litre in February – the largest increases in the last five
months…”
